Guest Blog: Renting? Renter's Insurance is a Must!

Posted by Jackie Friesth on Friday, June 9th, 2017 at 5:57pm.

If you live in a rented condominium, apartment, or home, you need to protect yourself and your property from the unexpected. The owner’s or landlord's insurance policy WILL NOT pay to replace your belongings. Their insurance covers the building, not your personal property.

That’s where renter’s insurance comes in. Renter's insurance is a smart choice for safeguarding yourself in the event of theft, sewer backup damage, fire and more. With renter's insurance from Bolder Insurance, we are an independent insurance agency, so we have dozens of companies to compare, so you get a policy that suites your budget and lifestyle.

Coverage

Personal property coverage can help ensure that if something happens and you need to repair or replace your belongings, you’re covered. If there’s a loss, we’ll pay the cost to repair or replace, up the actual cash value of your damaged or stolen property. Replacement cost coverage, which will cover you if something happens and you need to repair or replace your property. Our policies don’t deduct for depreciation (up to your coverage amount). This applies to any improvements, additions, or alterations you made to your rental unit at your own expense.Couple carrying boxes for moving day (no faces appear)

Personal Liability & Medical Coverage

Personal liability protection provides $300,000 of coverage (or more, if you choose) to pay for damages related to bodily injury and property damage if you are at fault or negligent. For example, If someone is hurt when they’re in your rental unit. In addition, it also covers property damage to others that you’re held responsible for, such as, you accidently hit a golfball thru someone's window. And, if you’re sued for those injuries or damages we’ll also cover your legal defense costs. Medical expense covers medical payments to others due to a covered loss, regardless of your legal responsibility.

Loss of Use

In the event where your rental property isn’t fit to live in, the loss of use coverage could apply. Loss of use coverage, or "additional living expenses ", covers any additional living expenses, meaning any necessary expense that exceeds what you normally spend. . Examples of expenses typically covered include the cost of hotel, food bills in excess of normal grocery/restaurant bills, cooking supplies and the cost of moving property into storage.

Contact an agent at 303-449-9595 for your flood insurance questions and quotes. Coverages described here are in the most general terms and are subject to actual policy conditions and exclusions. For actual coverage wording, conditions and exclusions, refer to the policy or contact us at Bolder Insurance.

Jackie Friesth is the Marketing Director and is one of the founding owners at Bolder Insurance in Louisville, Colorado. She is responsible for marketing programs, brand management, social media, and website development with over 20 years in the insurance industry.  Jackie’s background in fine arts drives her creative energy to help make the “Bolder Difference” and can be reached at: Bolder Insurance is located in the heart of Old Town Louisville, and can be reached here.

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